FTSE 100 closing price of 7,150, -0.5%
• Stock markets are falling into the trap of global growth
• Meggitt refuses as TransDigm issues a bid
• DS Smith meets after the results
• Divide excessively for fear of need
• Gold comes back under $ 1800 / oz
• Tumble cryptocurrencies, Bitcoin under $ 50K
The FTSE 100 fell on Tuesday, along with other major global contracts, as fears of a slowdown in global growth remained on the market. Goldman Sachs (NYSE: GS) has previously cut its forecast for US GDP growth amidst Delta's wide range of variations and a diminishing impact on Biden's stimulus.
One of the worst performers in the UK was Meggitt (LON: MGGT), whose shares declined after TransDigm (NYSE: TDG) said it would not do the company itself. It has been expected that TransDigm will enter into a bidding war with Parker-Hannifin (NYSE: PH) for aerospace parts manufacturer but with TransDigm out of order, Meggitt could proceed with the agreement reached with Parker-Hannifin.
On the other hand was DS Smith (LON: SMDS), whose shares met after the company said a strong demand had helped pay for rising paper costs, due to higher energy and transportation costs.
Cryptocurrencies hit the ground running with a wide range of digital-based transactions on the day El Salvador became the first country to accept Bitcoin as an official tender.
"Attempts at lowering the price of Bitcoin to celebrate its acceptance as an official tender in El Salvador have collapsed with cryptocurrency declining slightly in the last 24 hours," writes Hargreaves Lansdown (LON: HRGV) Senior Investment and Market Analyst Susannah Susannah Street.
Bitcoin fell about 12% in the last 24 hours and now the trade has returned below $ 50,000 to its lowest level since August 9.
Some major cryptocurrencies have shown similar price action with Ethereum falling by more than 15%, Cardano falling by more than 22% and XRP falling by more than 23%.
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